KMG Chemicals Inc. Declares 10% Stock Dividend and Semi-Annual Cash Dividend.
HOUSTON--(BUSINESS WIRE)--March 12, 2001
KMG Chemicals Inc. (Nasdaq:KMGB), a global provider of specialty chemicals in carefully focused markets, today announced that its board of directors has declared a per share common stock dividend of ten percent, as well as its semi-annual cash dividend of $.02 per common share. The stock dividend is payable on March 30, 2001 to shareholders of record as of March 23, 2001. The cash dividend is payable on April 10, 2001 to shareholders of record as of April 3, 2001. This is the company's first stock dividend since its inception, and the first semi-annual cash dividend of fiscal 2001. KMG's current annual cash dividend rate is $.04 per common share. As of March 1, 2001 there were approximately 6.8 million common shares outstanding.
David Hatcher, chief executive officer and president of KMG Chemicals, stated, "As we have said, and as we continue to say, KMG is all about creating shareholder value. These cash and stock dividends together underscore our ongoing commitment to reward our shareholders. As future increases in earnings permit, we hope to continue to prudently raise our cash dividend payout rate. We remain confident that our business model, which has evolved and improved over time, is working well. We see excellent opportunities for growth on the horizon."
KMG Chemicals, through its subsidiaries, is a global provider of wood preservation chemicals to the lumber and timber treatment markets, and herbicides to the agricultural markets. Its wholly owned subsidiary, KMG-Bernuth Inc., is a manufacturer and distributor of specialty chemicals to carefully focused markets. KMG-Bernuth's primary production facility is in Matamoros, Mexico and is operated by another subsidiary company, KMG de Mexico. Products are distributed from facilities in the United States and Mexico. For more information about the Houston-based holding company, visit the company's Web site at www.kmgb.com.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development acceptance, the impact of competitive services and pricing and general economic risks and uncertainties.
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 12, 2001|
|Previous Article:||IntelliCorp Announces Completion of $5 Million Equity Financing.|
|Next Article:||AERT 2000 Sales $28.3 Million, Up $7.8 Million.|